NYSE$TT
Trane Technologies · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong results and raised 2023 revenue and EPS guidance.
Trane Technologies reported strong third-quarter results with revenue up 12 percent and organic revenues up 9 percent. The company raised its full-year revenue and adjusted EPS guidance, driven by robust customer demand for sustainable products and services.
- Delivered strong third-quarter revenue, operating income, EBITDA and EPS growth.
- Strong bookings of $4.9 billion.
- Organic bookings were up 8 percent, led by Americas Commercial HVAC.
- Enterprise reported revenues were up 12 percent, including 3 percentage points related to acquisitions. Organic revenues were up 9 percent.
Headline financials
Revenue & EPS history
Trane · Revenue · Quarterly
$4.88B
Revenue by segment
Trane · $4.51B total across 2 segments · Q3 2023
- Americas HVAC & Transport$3.89B+11.7%86.3%
- EMEA Climate Solutions$619M+20.6%13.7%
Forward guidance
The Company expects full-year reported revenue growth of approximately 10 percent to 11 percent; organic revenue growth of approximately 8 percent to 9 percent versus full-year 2022. The Company expects GAAP continuing EPS for full-year 2023 of approximately $8.75. The Company expects adjusted continuing EPS for full-year 2023 of approximately $9.00.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+1.6%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+4.7%
Avg return
30 days after
66%
48 / 73 earnings
Positive
+12.0%
Q3 2023
Best reaction
-8.4%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | -0.4% | -5.8% | |
| Q4 2025 | +8.1% | +10.4% | +17.3% | |
| Q3 2025 | +4.6% | +1.3% | -1.4% | |
| Q2 2025 | -8.4% | -7.9% | -11.8% | |
| Q1 2025 | +8.5% | +14.0% | +21.7% | |
| Q4 2024 | +0.6% | -2.3% | -2.8% | |
| Q3 2024 | -5.2% | -3.5% | +6.6% | |
| Q2 2024 | +1.4% | -4.4% | +10.0% | |
| Q1 2024 | +4.7% | +6.1% | +8.0% | |
| Q4 2023 | +9.8% | +7.2% | +13.5% | |
| Q3 2023 | +12.0% | +14.1% | +19.6% | |
| Q2 2023 | +3.1% | +4.7% | +3.1% | |
| Q1 2023 | -6.7% | -6.3% | -8.2% | |
| Q4 2022 | +4.2% | +0.9% | +8.6% | |
| Q3 2022 | +3.1% | +4.9% | +12.0% | |
| Q2 2022 | +6.7% | +7.4% | +7.0% | |
| Q1 2022 | -2.0% | -3.6% | -0.8% | |
| Q4 2021 | -2.9% | -7.8% | -9.8% | |
| Q3 2021 | -1.1% | +2.3% | +5.6% | |
| Q2 2021 | -5.4% | -6.1% | -3.2% | |
| Q1 2021 | +4.1% | +6.8% | +4.0% | |
| Q4 2020 | +0.1% | -0.3% | +7.8% | |
| Q3 2020 | +6.8% | +11.2% | +16.0% | |
| Q2 2020 | +6.9% | +8.2% | +16.0% | |
| Q1 2020 | -6.3% | -0.9% | +12.2% | |
| Q4 2019 | +3.3% | +4.1% | -1.3% | |
| Q3 2019 | +4.7% | +5.6% | +7.9% | |
| Q2 2019 | +1.2% | -1.1% | -1.7% | |
| Q1 2019 | +1.3% | +3.5% | -0.6% | |
| Q4 2018 | +3.4% | +4.1% | +9.6% | |
| Q3 2018 | +3.9% | +1.5% | +10.9% | |
| Q2 2018 | +7.3% | +6.7% | +9.3% | |
| Q1 2018 | +5.8% | +4.4% | +11.7% | |
| Q4 2017 | +4.4% | -2.2% | -6.7% | |
| Q3 2017 | -5.2% | -7.0% | -11.9% | |
| Q2 2017 | -3.0% | -2.9% | -6.5% | |
| Q1 2017 | +4.2% | +3.6% | +4.3% | |
| Q4 2016 | -1.7% | +0.7% | +0.8% | |
| Q3 2016 | +3.8% | +4.2% | +17.8% | |
| Q2 2016 | -2.5% | -2.6% | -0.8% | |
| Q1 2016 | +3.2% | — | — | |
| Q4 2015 | +0.2% | — | — | |
| Q3 2015 | +3.3% | — | — | |
| Q2 2015 | -5.4% | — | — | |
| Q1 2015 | +1.7% | — | — | |
| Q4 2014 | +2.3% | — | — | |
| Q3 2014 | +2.9% | — | — | |
| Q2 2014 | +3.9% | — | — | |
| Q1 2014 | +2.8% | — | — | |
| Q4 2013 | -1.5% | — | — | |
| Q3 2013 | +6.7% | — | — | |
| Q2 2013 | +3.0% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2012 | +1.9% | — | — | |
| Q2 2012 | -2.7% | — | — | |
| Q1 2012 | +0.3% | — | — | |
| Q4 2011 | -0.2% | — | — | |
| Q3 2011 | -1.2% | — | — | |
| Q2 2011 | -0.5% | — | — | |
| Q4 2010 | -0.5% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q2 2010 | -1.0% | — | — | |
| Q1 2009 | +3.9% | — | — | |
| Q1 2010 | +3.9% | — | — | |
| Q4 2007 | +2.2% | — | — | |
| Q4 2009 | +2.2% | — | — | |
| Q3 2008 | +4.6% | — | — | |
| Q3 2009 | +4.6% | — | — | |
| Q4 2008 | -0.6% | — | — | |
| Q2 2009 | -0.6% | — | — | |
| Q2 2008 | -0.6% | — | — |
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